Critical Catalyst for Ethereum: Correct Timing Brings Massive Rise!
Cryptocurrency analyst said spot ETF timing could be the right bullish catalyst for Ethereum.
Pseudonymous cryptocurrency analyst @_10delta_ said that spot Ethereum ETFs could be a successful catalyst for the rise if approved at the right time.
He stated that currently, the market is still surrounded by uncertainty and the macroeconomic structure is not conducive for an increase, and he drew attention to the increase in short positions opened specifically for Ethereum.
Ultimately, he noted that if spot Ethereum ETFs arrive at the right time, an upward bullish fuse could be ignited:
According to CoinGecko data, Ethereum, which has increased by 2% in the last 24 hours, is traded at $ 3,558 at the time of writing.
When will the Spot Ethereum ETF be approved?
US Securities and Exchange Commission (SEC) Chairman Gary Gensler recently said that spot Ethereum ETFs will be approved this summer.
Bloomberg senior ETF analyst Eric Balchunas stated that spot Ethereum (ETH) exchange-traded funds (ETFs) will enter the market in the next few weeks.
Balchunas announced that the SEC has started to respond to issuer companies regarding their S-1 forms.
